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Most Probable, most possible

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  • Maurizio d'Amato

Abstract

The work is focused on the application of possibility theory to property appraisal. Usually appraiser is used to find a ìmost probable selling priceî of the property to be estimated in an uncertain environment. In other sciences uncertain information have been analyzed in different ways. Starting from the possibility theory (L.Zadeh, 1978) it is possible to deal with property market data reaching, in some contexts, different conclusions. The work is organized as follow: after an introduction, the first paragraph will analyze a brief profile of fuzzy sets ant theory of possibility. In the second paragraph the attention will be concerned about the comparison between most probable selling price and ìmost possible selling priceî. A final paragraph will offer final remarks and future directions of research.

Suggested Citation

  • Maurizio d'Amato, 2001. "Most Probable, most possible," ERES eres2001_140, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2001_140
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    References listed on IDEAS

    as
    1. Carlo Bagnoli & Halbert C. Smith, 1998. "The Theory of Fuzzy Logic and its Application to Real Estate Valuation," Journal of Real Estate Research, American Real Estate Society, vol. 16(2), pages 169-200.
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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